The markets opened in-line with expectations and moved to early losses. Corn and soybeans remained under pressure from pre-WASDE positioning and good Midwest weather forecasts. Wheat found support from bear corn/wheat spread trading, which triggered additional technical buying. Livestock futures remain under pressure from ample domestic supplies and export demand concerns. The weather remains favorable for finishing corn and soybean crops while hampering the spring wheat harvest. For the next week, the U.S. will see above-average temperatures while the bulk of the corn belt remains slightly drier than usual. The Dakotas and Montana will receive above-average precipitation, to the detriment of the spring wheat crop. Beyond the coming...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.